Personal Tech

Comparison Between Gold And BitCoin

A Quick Comparison Between Crypto Currency, Gold, and Bitcoin

In some places, gold seems to have more important place in the financial world. On the other hand, some people begin to see Bitcoin as a valid method to hold our savings.

This allows us to shop and perform other daily transactions. For average consumers, Bitcoin & other crypto-currency seems to provide a relevant alternative. It is probably a good time to make a comparison between gold and Bitcoin and Ethereum (other crypto-currency)..

People have been using gold as a type of currency since millennia ago; while Bitcoin has been around only just over a decade. Although the concept has gone through some maturing process, gold still has a pervasive influence in the market. Bitcoin promises continuous improvements in convenience, security and functionality. Experts have compared the current state of Bitcoin with the Internet in the early and mid 1990’s. Proponents of Bitcoin argue that nearly all advancements related to gold have already happened as seen by the mass acceptance of any physical gold bullion products since a millennia ago. In fact, some company acquisitions have been performing using gold as currency. They just don’t trust that the government won’t go into hyper inflation.

The idea of gold versus Bitcoin is an important argument worth shelving. Rather than choosing one of them; many of us would prefer to use a combination of them to take advantage of the better qualities of each. In fact, we have seen a co-existence between Bitcoin and gold, in the form of “Casascius coins. This the first instance of Bitcoin and gold coming together and it won’t be the last.

Ethereum another crypto currency is at $1,549.00. It’s usually best mined with Raedon graphics cards x 5 or 6 put up on racks for optimal organization. Lan cables allow it to mine at high speeds for a profit over power usage..

Paper money is our solution to improve circulation and gold is our ancestor’s solution to preserve the value of currency. The metal is less affected to inflation, because it is much more expensive than paper or other cheap metals. And, crypto currency is the new technological gear to provide reliability during transactions, with the timelessness and precision of a Swiss watch.

Regardless of the criticism, Bitcoin and other crypto currencies will continue to appeal many people due to its distinct advantages, especially when compared to conventional currencies such as paper money which gets inflated and is often lost, spent, or stolen.

It is based on instantaneous, direct P2P (peer-to-peer) transactions to completely avoid cumbersome and expensive electronic payment systems. Over time, investors would find that Bitcoin delivers improved store of value than any serially-printed flat currencies.

The Bitcoin protocol puts a limit on the amount of bitcoins available at one time. There will always be 21 million bitcoins and the system seems more honest than even the US dollar at times. With Bitcoin and other crypto-currencies, consumers could get increased financial privacy; although there are concerns that the government will silently tap into the system with constant financial monitoring.

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Facebook Ramps Up Its Blockchain Division

Tech giants are exploring blockchain and Facebook are not left behind. The company has reportedly promoted among its senior engineers, Evan Cheng, as being the Director of Engineering because of its new blockchain division.

Powering within the blockchain division

Last May, Facebook Messenger head David Marcus, had announced leaving the post to assist the company explore the uses of blockchain technology.

“I’m creating small group to discover how to best leverage Blockchain across Facebook, beginning from scratch,” Marcus announced using a post as part of his Facebook page. This came months following announcement of Facebook CEO Mark Zuckerberg that they has started studying the possible uses of cryptocurrencies for Facebook. Blockchain is actually the underpinning technology behind cryptocurrencies exposed to fame by Bitcoin.

Joining Marcus now could be another Facebook senior engineer.

Getting seriously interested in blockchain

Now that among its senior engineers has moved to the blockchain division, the online community giant appears much more serious than ever. Evan Cheng’s LinkedIn profile supports his transfer because he became the Director of Engineering for Blockchain recently. Previously, Cheng was called head on the Programming Languages & Runtimes for Facebook. He had held the post for three years.

Before that, Cheng was with Apple and worked as being a Senior Manager for Low Level Tools. He also knowledge on back engineering and compilation technology. Cheng’s qualifications showed him tweeting about blockchain. In addition, he previously served as divisor to many blockchain startups/projects like ChainLink and Zilliqa.

“It means it’s [Cheng’s promotion] besides an exploratory project,” TechCrunch quoted an origin who monitors the blockchain space. According to the same source, putting Cheng within the blockchain division means the project is significant because he knows something about scalability and satisfaction.

As in the first quarter of 2018, Facebook has over 2 billion monthly active users all over the world, rendering it a likely target of security threats for that vast amount of valuable information it currently holds. In recent news, the corporation has been included in different data breach scandals through which data from 87 million Facebook users were gathered and employed in political campaigns. Despite this, how many monthly users still increased by 13 percent compared to 2017’s first quarter. Seeing the running impact of social websites in today’s society, it can be high time that Facebook and similar social media sites find approaches to protect their users from unscrupulous manipulation.

Facebook’s move to discover blockchain may be considered one of the steps to treat these problems. With blockchain’s decentralized and immutable design, it bodes well for streamlining processes along with strengthening to safeguard data handling across many industries.